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  • #2,341
  • Edited 11:34am Sep 10, 2009 11:23am | Edited 11:34am
Quoting studbiol
Hi,

after rereading I tried it again. The trade GBPUSD worked fine but USDCAD didn't succeed. I'm pleased about any explanation.

Attachment

The yellow lines show up how I decided to enter the trades.

GBPUSD = + 37,6 pip
USDCAD = - 20,0 pip


Hi there.... IMHO.... the price was consolidating at higher levels within the channel.... Bear in mind that the price was meeting R2 resistance line. Look at the channel ... whether it is uptrending, downtrending or moving sideways... It gives you a clue on what to expect next...

Price was moving sideways and within the channel...a no trade zone. For a sustained breakout, price should stay and remain above the uptrend channel ie the higher channel.

It tried to move up but unable to do so and back into a channel - a no-trade zone.

Just my humble opinion.

Cheers !
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 18 KB
  • #2,342
  • Sep 10, 2009 11:23am Sep 10, 2009 11:23am
Quoting luckylady
The way I see it, you are going very nearly near the high of the day again, and although the GU one worked out, I wouldn't have taken the USDCAD mainly because it had been so long since the 5min signalled, I would have waited for a fresh one. I think you need to take into account what is going on around the bars on the chart and decide if its likely the trade will get kicked back, both GU and UC were both very near R3.

??? please look at my explanations on chart ???

Attached Image (click to enlarge)
Click to Enlarge Name: 2009-09-10 post 1-2.gif Size: 40 KB


Although it is written in previous post that it should be very easy to understand ... I think it becomes every time more complicated when a trade doesn't work. I'm afraid I should wait for the manual.

If there are pips you can collect - just do it!
  • #2,343
  • Edited 11:38am Sep 10, 2009 11:27am | Edited 11:38am
Those setups work more often than not. They are about the best signals from a trix that I have seen, and if you had come in at the start of either the Europe/London session or the US session you can more often than not see them work, BUT if coming in late in the day you must take into account everything else that is going on around you. The GU had already travelled ~200 pips before you came in on the move.

A manual will only give you what you did, you went strictly by the signal, but if only going by the signal you can't then ask why a trade went wrong, if other things are not taken into account.

Another thing I meant to say, is that not all signals work it doesn't matter how good they are, you have to expect some losses, the more trades you do in a day, the losses won't matter because the wins will be far more.
  • #2,344
  • Sep 10, 2009 11:41am Sep 10, 2009 11:41am
Quoting luckylady
Those setups work more often than not. They are about the best signals from a trix that I have seen, and if you had come in at the start of either the Europe/London session or the US session you can more often than not see them work, BUT if coming in late in the day you must take into account everything else that is going on around you. The GU had already travelled ~200 pips before you came in on the move.

A manual will only give you what you did, you went strictly by the signal, but if only going by the signal you can't then ask why a trade went...
Yeah, Luckylady is right, those setups do work more often than not.
However, when you do lose, do not let the loss be just a loss, but rather let it be the price of your education. Keeping the loss on your chart, add the pivot point indicator, move out to a higher time frame and see why the trade failed. If you analyize it and see the bigger picture you will learn from it.
Sometimes trades will fail even if everything is set correctly, but if you learn from the loss, it is not just a loss but a teaching moment.

We have a great system here, a great opportunity to learn to trade profitably.....wow!!!
  • #2,345
  • Sep 10, 2009 11:55am Sep 10, 2009 11:55am
Quoting luckylady
Those setups work more often than not. They are about the best signals from a trix that I have seen, and if you had

come in at the start of either the Europe/London session or the US session

you can more often than not see them work, BUT if coming in late in the day you must take into account everything else that is going on around you.

The GU had already travelled ~200 pips before you came in on the move.

A manual will only give you what you did, you went strictly......

Thank you for your answer. Three colous for three notes:

1. US session started 1h 45min before my trade. I don't think I was too late.

2. GU was successful ... I think thats O.K.

3. Seems it's like on every trading idea: Shit happens ... and I can accept that.



Quoting Syahmi
Hi there.... IMHO.... the price was consolidating at higher levels within the channel.... Bear in mind that the price was meeting R2 resistance line. Look at the channel ... whether it is uptrending, downtrending or moving sideways... It gives you a clue on what to expect next...

Price was moving sideways and within the channel...a no trade zone. For a sustained breakout, price should stay and remain above the uptrend channel ie the higher channel.

It tried to move up but unable to do so and back into a channel - a no-trade zone.

Just my humble...

Hi Syahmi, thanks too for your answer. I've seen your channel some time before ... I think on C4 thread ... it is very interesting. I just tried to trade with the pure template that Glen posted. I'm very sure that things are not always so easy as they seem at the first look.

If there are pips you can collect - just do it!
  • #2,346
  • Sep 10, 2009 11:58am Sep 10, 2009 11:58am
I also want to add something. I'm very much a newbie, but I have found that you should be using an indicator called xADR_0.2. Click on the paper clip and look for it. Put it on the main chart. It will appear in the upper lef hand corner.

This little indicator is fantastic. If the ATRs are RED, you don't trade. But if they are GREEN, it's ok. The same with the next set of numbers, which I believe is yesterday's range. It shows you how much room is left in the range. It also will turn RED for you to stay out and GREEN for an OK condition to trade.

Hope this helps.

Carol


Quoting studbiol
??? please look at my explanations on chart ???

Attachment

Although it is written in previous post that it should be very easy to understand ... I think it becomes every time more complicated when a trade doesn't work. I'm afraid I should wait for the manual.

  • #2,347
  • Sep 10, 2009 12:00pm Sep 10, 2009 12:00pm
Quoting pgpb
Yeah,... Sometimes trades will fail even if everything is set correctly, but if you learn from the loss, it is not just a loss but a teaching moment.

We have a great system here, a great opportunity to learn to trade profitably.....wow!!!

As I mentioned the post before: Shit happens ... but I look foreward and I can really say like you said: WOW!!!

If there are pips you can collect - just do it!
  • #2,348
  • Edited 12:41pm Sep 10, 2009 12:27pm | Edited 12:41pm
Quoting studbiol
As I mentioned the post before: Shit happens ... but I look foreward and I can really say like you said: WOW!!!

Unfortunately, all indicators describe only the past and whatever brilliant setup is not able to predict PA for 100 %.

I still suggest that you attach the pivots to your chart. They are almost as mandatory part of any chart as candles. That is why Glen probably did not attach them to the template - it is too obvious that everyone has them anyway.
  • #2,349
  • Sep 10, 2009 1:01pm Sep 10, 2009 1:01pm
Quoting studbiol
USDCAD = - 20,0 pip

I checked your USDCAD trade with my chart. Yes, in general we may say that shit happens and that's it.
At the same time, I probably would not take this trade. As I mentioned before, I most often trade the setup in a more conservative way - take entries only from M5 timeframe and only if there is a fresh signal. At the time when you entered there was no fresh M5 signal. M5 was pointing long but the signal appeared 45-50 minutes earlier that is too long ago.
I attach my chart with arrows, then you see what I mean.
Attached Image (click to enlarge)
Click to Enlarge Name: 1009 3.gif Size: 42 KB
  • #2,350
  • Sep 10, 2009 1:09pm Sep 10, 2009 1:09pm
Quoting Indrek
I checked your USDCAD trade with my chart. Yes, in general we may say that shit happens and that's it.
At the same time, I probably would not take this trade. As I mentioned before, I most often trade the setup in a more conservative way - take entries only from M5 timeframe. And at the time when you entered there was no fresh M5 signal. M5 was pointing long but the signal appeared 45-50 minutes earlier, and that is too much.
I attach my chart with arrows, then you see what I mean.
Hi Indrek,

now I'm sure that the pure template of Glen is not the way I'm able to trade. You added smSignal arrows (3,1,1,1 ?) and FibonacciPivot ... I think I also will need them. O.K. tomorrow is a new day ... new day - new trial.

Thank you so much

If there are pips you can collect - just do it!
  • #2,351
  • Edited 1:32pm Sep 10, 2009 1:14pm | Edited 1:32pm
Quoting studbiol
Hi Indrek,

now I'm sure that the pure template of Glen is not the way I'm able to trade. You added smSignal arrows (3,1,1,1 ?) and FibonacciPivot ... I think I also will need them. O.K. tomorrow is a new day ... new day - new trial.

Thank you so much

I know Glen's teaching style very well already. He shows only a general direction but does not fix everything for you as it is your task not his. So, what he posted is not a ready template but just a raw material that has to be processed by anyone.

It is the same what I always stress - there is no ready setup, every trader must have his/her own version.
  • #2,352
  • Sep 10, 2009 1:38pm Sep 10, 2009 1:38pm
Quoting Indrek
I know Glen's teaching style very well already. He shows only a general direction but does not fix everything for you as it is your task not his. So, what he posted is not a ready template but just a raw material that has to be processed by anyone.

It is the same what I always stress - there is no ready setup, every trader must have his/her own version.

Hello Indrek,

I have been following your thread and it is improving more and more as we go along...., great!!!!

It appears that your indicator with the colored bars at the bottom of your chart is different from that of Studbiol. I guess that is why she has a different entry and than you have.
Any suggestions to correct this will be appreciated
  • #2,353
  • Sep 10, 2009 1:43pm Sep 10, 2009 1:43pm
Quoting studbiol
As I mentioned the post before: Shit happens ... but I look foreward and I can really say like you said: WOW!!!


Hi there....

Try to use this one instead.


Cheers !
Attached File(s)
File Type: ex4 MTF_Trix_Meter_1.0d.ex4   13 KB | 512 downloads
  • #2,354
  • Sep 10, 2009 1:43pm Sep 10, 2009 1:43pm
Quoting maxwell-eqtn
Hello Indrek,

I have been following your thread and it is improving more and more as we go along...., great!!!!

It appears that your indicator with the colored bars at the bottom of your chart is different from that of Studbiol. I guess that is why she has a different entry and than you have.
Any suggestions to correct this will be appreciated
I just use another version of MTF Trix that shows things in a different way. Studbiol has the one that is attached to the first page of the thread and that is also used by Glen. I now use the latest version made by xecret.
We have had a nice competition here between two coders New versions coming out all the time

Thank you for your kind opinion about the thread. We have really had a very constructive atmosphere here thanks to Glen and all nice people who have been part of it.
  • #2,355
  • Sep 10, 2009 1:50pm Sep 10, 2009 1:50pm
Quoting Indrek
I just use another version of MTF Trix that shows things in a different way. Studbiol has the one that is attached to the first page of the thread and that is also used by Glen. I now use the latest version made by xecret.
We have had a nice competition here between two coders New versions coming out all the time

OK, Good !!

So could you put the one you use on post one then ??

Thanks.
  • #2,356
  • Sep 10, 2009 1:56pm Sep 10, 2009 1:56pm
Quoting maxwell-eqtn
OK, Good !!

So could you put the one you use on post one then ??

Thanks.
Syahmi just posted one of the latest versions. I attach here even a newer one that was made by xecret special for me as I could not make the 1.0 version work with my Vista.
I had different versions in post 1 earlier but then I decided not to confuse new people and kept only one that is used by Glen who is the Professor in this laboratory
Attached File(s)
File Type: ex4 MTF_Trix_Meter_1.1d.ex4   11 KB | 804 downloads
  • #2,357
  • Edited 10:00pm Sep 10, 2009 9:44pm | Edited 10:00pm
Based on my observations it looks like the TRIX Meter Roy 05 signals are delayed by one bar. Please put the TRIX Meter Roy 05 and the MTF_TRIX_Meter_1.0d indicator coded by Xecret on your chart and you will see that you get a delayed signal with TRIX Meter Roy 05 indicator. The MTF_TRIX_Meter_1.0d indicator coded by Xecret is working perfectly.

TimeFreedom
  • #2,358
  • Sep 10, 2009 11:37pm Sep 10, 2009 11:37pm
Quoting TimeFreedom
Based on my observations it looks like the TRIX Meter Roy 05 signals are delayed by one bar. Please put the TRIX Meter Roy 05 and the MTF_TRIX_Meter_1.0d indicator coded by Xecret on your chart and you will see that you get a delayed signal with TRIX Meter Roy 05 indicator. The MTF_TRIX_Meter_1.0d indicator coded by Xecret is working perfectly.

TimeFreedom
This issue has been handled already in earlier posts. The working principle of these indicators is just different. Roy 05 shows change of colour AFTER the signal has been confirmed while other versions show it whenever Trix has crossed 0.
  • #2,359
  • Edited 8:42am Sep 11, 2009 12:45am | Edited 8:42am
Long GBPUSD 30 5

Entry 1.6706
Stop 1.6681
TP#1 1.6731
TP#2 1.6745

Risk 1.8%
Profit 1.4%

I waited on price to clear the whole number (1.6700) before entering on this one. After price hit TP#1 I started to trail the stop on the remainder of the position. Got stopped out before hitting TP#2.

Doc
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU090911a.jpg Size: 72 KB
Click to Enlarge Name: GU090911b.jpg Size: 77 KB
  • #2,360
  • Edited 1:02am Sep 11, 2009 12:51am | Edited 1:02am
Quoting DocPMD
Long GBPUSD 30 5

Entry 1.6706
Stop 1.6681
TP#1 1.6731
TP#2 1.6745

Risk 1.8%
Profit 1.4%

I waited on price to cleat the whole number (1.6700) before entering on this one. After price hit TP#1 I started to trail the stop on the remainder of the position. Got stopped out before hitting TP#2.

Doc
Very logical entry! By the book
I cannot see anything wrong about getting out of the trade as there is a strong pivot ahead.
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